Banks May Require More Capital Under Bailout
News: The IMF, the European Central Bank and the European Commission have signed a preliminary agreement to unblock capital under Greece's bailout package. The trio stated that banks in Greece may require more capital than the current estimates by the Bank of Greece. Earlier in March, the central bank of Greece estimated that Greek banks would require an additional EUR6.38bn (US$8.82bn) in capital. 'The Bank of Greece should remain vigilant in its oversight of the banking system and proceed forcefully in requiring banks to quickly work out their large stock of problem assets', the IMF, the European Central Bank and the European Commission said in a joint statement (Bloomberg).